Eximo Medical Announces Completion Of Its Series A Round To Be Used To Perform First In Human (FIH) Clinical Trial In Europe And Israel
Published: Jul 29, 2015
REHOVOT, Israel--(BUSINESS WIRE)--
Eximo Medical has completed its Series A funding round of $1.6M. Accelmed, a leading medical device Investment Fund, led the round, with the participation of the Alfred Mann Institute at the Technion (AMIT), the Technion R&D Foundation Ltd. and a private investor.
Eximo has developed a patented hybrid catheter, Cathi™, which is connected to a pulsed laser system that operates at 355nm UV. The catheter’s tip combines laser ablation capabilities with a mechanical blunt blade. This combination will potentially improve accuracy, and enable superior precision when passing through a vessel blockage, regardless of the type of lesion or size of the vessel.
Eximo’s Cathi™ technology has the potential to optimize safety and performance expected to reduce the risk of vessel perforation. The performance of the system and its catheters in treating PAD will soon be tested in human studies in Europe and Israel during Q4, this year.
Eximo’s first set of catheters will offer a range of unique solutions for different blockage pathologies during atherectomy procedures in patients with Peripheral Artery Disease (PAD); a multi-billion dollar market affecting 8-12 million Americans.
PAD is the underlying cause of around 66% of limb amputations, a life-changing operation that continues to beset patients even in the 21st century. According to US figures, around 122,000 PAD-related amputations, costing $8.3 billion in hospital costs, take place annually.
Dr. Irit Yaniv, Chairperson of Eximo, said, “We have been engaged in the development of our Cathi™ technology for several years and are excited to have reached the stage to take its main application – the treatment of PAD patients – through its FIH clinical trials later in the year. We have every faith in the relevance of our laser system and hybrid catheters which we believe have several advantages over existing solutions in the market.”
Eximo’s product pipeline includes solutions for Lead Extraction (LE) - the removal of defunct, malfunctioning or infected pacemaker or fibrillator leads and, at a later stage, catheters for interventional gastrointestinal procedures.
About Eximo Medical Ltd.
Eximo Medical Ltd., founded in 2012, is an Israeli company dedicated to developing safe and efficient transluminal solutions for interventional vascular and gastrointestinal procedures. The company’s Cathi™ catheters are based on innovative technology comprising a proprietary hybrid laser and “blunt” blade components and a compact laser system with a tiny footprint.
The company’s founders, and an eminent Scientific Advisory Board comprising several renowned PAD and LE cardiovascular physicians from leading American and Israeli medical institutes, supports the Eximo executive team.
More information can be found at www.eximomedical.com.